Uber reported Q1 2023 revenue of $8.82B, a 29% YoY increase, and gross bookings of $31.4B, a 19% YoY increase.
In contrast to last year, when the company's net loss was $5.9B or
$3.03 per share, it posted a net loss of $157M, or $0.08 per share.
- Uber's adjusted EBITDA reached $761M, exceeding experts' predictions of $687M.
- Revenue for the mobility segment was $4.33B, while revenue for delivery was $3.09B.
- Gross
bookings for Uber's most prominent business division, Mobility,
increased 40% YoY to $14.98B, while gross bookings for delivery
increased 8% to $15.02B.
- Sales for Uber's freight division decreased from the $1.8B it reported for the same quarter last year to $1.4B for the quarter.
- Shares of $UBER rose by 7% on Tuesday and closed up another 3.61% on Wednesday at $37.84.
NOTE: Inside.com founder and CEO Jason Calacanis is an investor in Uber.
